Claim

[ebearry]

I have an independant dealership in Jacksonville Florida. Last year I entered a written agreement with a Franchise dealership. In short, this agreement govern how we would sell cars to end customers using the Franchise dealers lenders. We sold more than 300 vehciles this way but the Franchise dealer failed to pay us for more than 20 vehicles. Our agreement required that we arbitrate this agreement. Before taking this to arbitration, we filled a claim against his bond. The Franchise dealer is claiming that they have offsets that equal the amount due. While we agree that they have offsets, we know the amount of these offsets is much smaller than the amount due. By our conservative calculations, we figure the Franchise dealer owes us 120K.

What is the responsibility of the bond company to process our claim? The Franchise dealer's tactic is to delay as much as possible hoping that we will go out of business in the process of suing them. What advice do you have. Thanks.

[marietta68]

Consult an attorney as quickly as possible.

[ebearry]

Thanks. Already have one, now looking at an attorney that specializes in bonds.

[Surety Queen]

Originally Posted by ebearry

Thanks. Already have one, now looking at an attorney that specializes in bonds.

We're not aware of any - maybe do an internet search. Good luck!